Independent AML Audit

This service is designed for:

Reporting entities that who are mandated by their AML/CTF Program to conduct an independent AML audit more frequently due to their size, nature and complexity or due to their higher than average risk money laundering, terrorist financing and non-proliferation financing risk
Smaller and less complex reporting entities which are mandated by the AML/CTF legislation to conduct an independent AML Audit every three years.
Businesses that want a proactive AML health check before their mandatory audit is due in order to identify any gaps or remediation required.
Organisations that have undergone significant change (e.g., rapid growth, new leadership, a previous compliance breach, started to provide a new designated services or client base has extended to more higher risk categories) and need assurance.

As your independent auditor, we provide an objective assessment, not just a checklist. Our audit process is rigorous and constructive:

Planning & Scoping: We define the audit's scope based on your highest risk areas and regulatory requirements.
Testing & Evidence Gathering: We meticulously test the effectiveness of your AML/CTF Program against its own objectives and the law. We examine transaction records, CDD files, STR/SMR reports, and interview key staff.
Analysis & Reporting: We provide a clear, detailed report that doesn't just identify gaps but categorizes them by risk and provides actionable recommendations for remediation.
Debrief & Roadmap: We walk you through the findings and help you develop a practical plan to address the issues before AUSTRAC ever sees them.

An audit with us provides:

Peace of Mind: The confidence that comes from knowing your program will stand up to regulatory scrutiny.
A Clear Action Plan: A prioritized list of recommendations to strengthen your compliance framework.
A Defensible Report: A comprehensive document that proves to AUSTRAC you take your compliance obligations seriously.